Dan Loeb’s Third Point Partners Qualidied is reporting a 4.9% increase for May, bringing its year-to-date return to 0.7%. In a note to investors, which was obtained by Hedge Fund Alpha, the firm reported that it fully exited AT&T Inc (NYSE:T), which was a new position reported on its 13F for the first quarter. Third Point owned about 3.8 million shares of AT&T as of Q1.
The firm also trimmed its stake in Fortive, which it first owned in the fourth quarter of 2024. As of Q1, Third Point owned 1.9 million shares of the industrial technology conglomerate.
Top contributors in May
Last month, Third Point’s top contributors were U.S. Steel (NYSE:X), Siemens Energy AG (ETR:ENR) and Taiwan Semiconductor Manufacturing (NYSE:TSM). U.S....
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